USDCAD Stays weak in Forex market
1/9/2018 11:59:56 AM
During FX market, the USDCAD pair came under some improved selling pressure and at present floating over the 1.2403 handle.
Instant support is fixed near the 1.2377 area and is nearly followed by mid-1.2305s, below which the pair is probable to speed up the drop towards testing sub-1.2305 level.
On the positive aspect, the 1.2440-47 area might keep on to cap any recovery efforts, which if cleared now appears to cause a short-covering rebound even beyond the 1.2510 psychological mark towards 1.2533-37 horizontal hurdle.
FOREX market analysis by FxErvin.